SEC Filing Analysis: SECURITY NATIONAL BANK OF SIOUX CITY IOWA /IA/

Executive Summary

• Trading Significance: Low
• Key Takeaway: SECURITY NATIONAL BANK OF SIOUX CITY IOWA /IA/ filed a Form 13F-HR for the quarter ending September 30, 2025, reporting managed assets totaling $153,592,607 across 140 positions. The portfolio is heavily weighted towards large-cap technology and blue-chip stocks.
• Market Impact: Due to the relatively small size of the portfolio, this filing is not expected to have a significant impact on the market or the individual securities held.

Filer Information

Field	Value
Filer Name	SECURITY NATIONAL BANK OF SIOUX CITY IOWA /IA/
CIK	0000894309
Total Portfolio Value	$153,592,607
Number of Holdings	140

Portfolio Analysis

This Form 13F-HR is a mandatory quarterly report for institutional investment managers and does not represent individual insider transactions. It provides a snapshot of the firm's holdings as of the end of the quarter.

Top 10 Holdings

Issuer	Value (USD)	Shares
MICROSOFT CORP	$8,524,421	16,458
APPLE INC	$7,955,405	31,243
ORACLE CORP	$6,525,893	23,204
BERKSHIRE HATHAWAY INC DEL CL B	$6,294,305	12,520
ALPHABET INC CL A	$5,702,883	23,459
WALMART INC	$5,367,880	52,085
BERKSHIRE HATHAWAY INC DEL CL A	$5,279,400	7
ABBVIE INC	$3,561,548	15,382
AFLAC INC	$3,639,857	32,586
LEIDOS HOLDINGS INC	$3,217,044	17,025

Investment Strategy Insights

Positive Market Indicators

• Diversification: The portfolio is well-diversified across 140 different securities, reducing concentration risk.
• Blue-Chip Focus: A significant portion of the assets is invested in established, large-cap companies like Microsoft, Apple, and Berkshire Hathaway, suggesting a conservative, long-term growth and value strategy.
• Sector Allocation: The top holdings indicate a strong belief in the technology, consumer discretionary, and financial sectors.

Risk Factors

• Market Correlation: As the portfolio is heavily invested in large-cap U.S. equities, its performance will be highly correlated with the broader market indices like the S&P 500.
• Limited Alpha Generation: A strategy focused on large, well-known companies may limit the potential for outsized returns (alpha) compared to strategies involving smaller or less-followed companies.

Key Takeaways

1. Conservative Stance: The bank's trust department employs a conservative investment approach suitable for its client base, prioritizing stability and steady growth from established market leaders.
2. Significant Tech Holdings: The top two holdings, Microsoft and Apple, make up a substantial portion of the portfolio, reflecting confidence in the long-term prospects of the technology sector.
3. Standard Institutional Disclosure: This filing provides transparency into the bank's investment management activities but does not signal any urgent or unusual market-moving information.

Contextual Analysis

Filing Context

This 13F-HR filing is a routine disclosure required by the SEC for institutional managers with over $100 million in qualifying assets. It offers a point-in-time view of the portfolio and does not show the timing or rationale behind individual purchases or sales made during the quarter.

Company Context

Security National Bank is a regional bank based in Sioux City, Iowa. Its investment management arm serves its local client base. The investment choices reflect a strategy that is likely aligned with the risk tolerance and financial goals of typical trust and wealth management clients.

---

IMPORTANT DISCLAIMER: This analysis is for informational purposes only and is not intended as investment advice. The information presented is based on publicly available SEC filings and should not be construed as a recommendation to buy, sell, or hold any securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions.

Analysis generated on 2025-10-14 | Data source: SEC EDGAR